... structures in the run up to the global financial crisis and studies the implications for financial stability, exploiting a bank-level dataset that covers about 11,000 banks in the U.S. and Europe ... macroeconomic and monetary conditions in the run-up to the crisis. These are the yearly average rate of GDP growth, GDP GROWTH, and the MONEY MARKET RATES. The use of pre-crisis averages for the explanatory ... trillion at end-2009. The massive size of these banks makes them extremely challenging to resolve, and their interconnectedness and financial complexity compounds with the breath of their operations,...